Is Barrick Gold Corp. (NYSE: GOLD) Back In The Buying Zone?

Currently, there are 1.76B common shares owned by the public and among those 1.74B shares have been available to trade.

The company’s stock has a 5-day price change of 0.00% and 4.14% over the past three months. GOLD shares are trading -1.27% year to date (YTD), with the 12-month market performance down to -9.02% lower. It has a 12-month low price of $13.76 and touched a high of $20.75 over the same period. GOLD has an average intraday trading volume of 22.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.68%, 14.05%, and 10.04% respectively.

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Institutional ownership of Barrick Gold Corp. (NYSE: GOLD) shares accounts for 65.39% of the company’s 1.76B shares outstanding.

It has a market capitalization of $31.35B and a beta (3y monthly) value of 0.58. The stock’s trailing 12-month PE ratio is 24.65, while the earnings-per-share (ttm) stands at $0.72. The company has a PEG of 3.68 and a Quick Ratio of 2.40 with the debt-to-equity ratio at 0.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.62% over the week and 2.76% over the month.

Analysts forecast that Barrick Gold Corp. (GOLD) will achieve an EPS of $Micro Gold Futures,Jun-2024 for the current quarter, $2,373.10 for the next quarter and $Future for Type. The lowest estimate earnings-per-share for the quarter is $Shanghai Gold (CNH) Futures,Jun while analysts give the company a high EPS estimate of $Gold TAS Futures,Jun-2024. Comparatively, EPS for the current quarter was $Shanghai Gold (USD) Futures,Jun a year ago. Earnings per share for the fiscal year are expected to increase by 19.87%, and 24.22% over the next financial year.

Looking at the support for the GOLD, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on February 29, 2024, with the firm’s price target at $15-$21. Bernstein was of a view on January 08, 2024 that the stock is Mkt Perform, while Exane BNP Paribas gave the stock Neutral rating on February 13, 2023, issuing a price target of $19. Goldman on their part issued Neutral rating on September 12, 2022.

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